26th June 2019
Attorneys for the government of Azerbaijan on Monday accused the wife of an imprisoned Azeri banker of knowingly spending £16 million in illicit funds at Harrods and other luxury retailers, according to Bloomberg. The allegations came as part of a hearing in London seeking Zamira Hajiyeva’s extradition to the South… Read More
18th June 2019
Albania’s parliament approved a series of laws on Monday aimed at plugging holes in legislation against money laundering as part of efforts to persuade the European Union to launch accession talks. The EU is expected to decide by September whether to open membership talks with Albania and North Macedonia. Diplomats… Read More
11th June 2019
A senior American banker once secretly awarded a shareholding in powerful Moscow investment bank Renaissance Capital to one of Vladimir Putin’s closest friends and brokered meetings for the friend with top U.S. foreign policy officials a decade ago, emails show. The American banker, Robert Foresman, currently vice chairman at UBS… Read More
29th May 2019
Growing demand by Asia’s rich for independent advisory services and access to a wide variety of investment products is spurring the surge of boutique wealth managers more associated with the established wealth hubs of Switzerland and London. The boutiques, or so-called external asset managers (EAMs), mainly tap small-and-mid-level business owners… Read More
22nd May 2019
Mexico’s government will auction a Lamborghini, homes and other assets seized from gangsters and at least one former politician, officials said on Tuesday, part of a “Robin Hood” program to use millions of dollars in ill-gotten gains to aid the poor. The first auction, set for Sunday, will seek bids… Read More
17th May 2019
Frankfurt public prosecutors said they led a nationwide raid on eight homes and 11 banks on Wednesday as part of an investigation into wealthy individuals suspected of tax evasion. The action was a follow-up on a police raid last November of Deutsche Bank over money laundering allegations linked to the… Read More
17th May 2019
By Reza Tajaddini, Swinburne University of Technology and Hassan F. Gholipour, Swinburne University of Technology There is disquiet about the French owners of the luxury brands Luis Vuitton, Christian Dior, Givenchy and Gucci giving a whopping €300 million to the rebuilding of Notre Dame Cathedral. Such… Read More
15th May 2019
Facing unprecedented pressure to clamp down on criminal groups, UK law enforcement officials are in need of an additional £2.7 billion in funding over the next three years, the head of the National Crime Agency (NCA) said Monday. The agency is seeking a 54-percent increase in its annual budget, which… Read More
7th May 2019
Malaysia has extradited a former Goldman Sachs banker to the United States for 10 months to face criminal charges linked to a multibillion-dollar scandal at state fund 1MDB, its attorney general said on Monday. Malaysian Roger Ng has been detained in Kuala Lumpur since Nov. 1, after the U.S. Department… Read More
29th April 2019
The Royal Bank of Scotland (RBS) Group has launched an internal investigation into whether its subsidiary Coutts and Co. and a unit of ABN Amro processed payments linked to a Russian and Lithuanian money laundering scheme. The Edinburgh-based lender disclosed in a quarterly earnings filing Friday that the probe had… Read More